U.S. industry groups representing businesses, manufacturers and carmakers decried President Donald Trump's decision to impose tariffs on steel and aluminum imports from the EU, Canada and Mexico saying the move would likely prompt retaliation and threaten jobs.
The Trump administration on May 31 lifted temporary exemptions on steel and aluminum tariffs for its three major trading partners.
The U.S. Chamber of Commerce on May 30 urged Trump not to impose tariffs or quotas. Myron Brilliant, the chamber's executive vice president and head of international affairs, said "such a move would hit American manufacturers with higher costs, slow the growth of the U.S. construction sector, and put the brakes on job creation in both of these key industries."
U.S. steel prices are already almost 50% higher than those in Europe or China, and aluminum prices have been extremely volatile, the chamber said.
The Motor & Equipment Manufacturers Association, which represents 1,000 U.S. auto parts manufacturers, said in a statement that their members face having to pay double tariffs on some materials necessary to manufacture parts in the U.S.
The Alliance of Automobile Manufacturers, which represents 12 producers in the U.S. including General Motors Co., Ford Motor Co., Volkswagen AG and Daimler AG, said that increased prices for U.S.-made materials will be passed on to consumers, Bloomberg News reported. The group called for a "careful re-evaluation of these tariffs so they address legitimate concerns" without hurting steel and aluminum users.
